Riot Games has officially announced that the update 5.03 has been delayed and will go live on August 9, 2022 instead.
"We're skipping our regular patch cadence this week to allow our engineers the time they need to upgrade our game engine. You can expect the next patch - Patch 5.03 - to start shipping August 9," Riot said.
Although the developers haven't announced the changes yet, we know from the previous Riot statements that they will update the game engine in the upcoming patch.
The shooter fans on Twitter are actively expressing dissatisfaction with the delay as they had expected minor fixes in the next patch.